Moody’s downgrades iQor

Moody’s Investors Service said it downgraded iQor US, Inc.’s probability of default rating to D-PD from Ca-PD.

The downgrade was prompted by iQor’s Sept. 10 announcement it filed Chapter 11 bankruptcy proceedings.

Concurrently, Moody’s affirmed IQor’s corporate family rating at Ca and the Ca rating on the issuer’s first-lien senior secured term loan and the C rating on its second-lien senior secured term loan.

The outlook is stable.

Moody’s said it will withdraw the ratings due to iQor’s bankruptcy filing.

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